City Developments Limited (C09) announced that its shareholders approved the adoption of the CDL Performance Share Plan 2026 at the company’s extraordinary general meeting (EGM) held on Apr, 29 2026 in a hybrid format at M Hotel Singapore and via live webcast.

The sole ordinary resolution secured 483.73 million votes in favour (77.64%) against 139.29 million votes (22.36%) from a total of 623.03 million shares voted.

The CDL Performance Share Plan 2026 authorises the board to grant awards and to allot and issue ordinary shares, with the aggregate number of new and existing shares, including treasury shares, capped at 10% of the company’s issued share capital (excluding treasury shares and subsidiary holdings) at any time. Participants eligible for the plan—including executive and non-executive directors as well as selected employees—abstained from voting on the resolution.

Trusted Services Pte Ltd acted as polling agent, while TS Tay Public Accounting Corporation served as independent scrutineers.

During the meeting, Group Chief Operating Officer Kwek Eik Sheng outlined the plan’s key features, noting that awards will typically cliff-vest after a three-year performance period based on metrics such as total shareholder return, earnings per share, return on average capital employed and greenhouse-gas emissions reduction. The plan also incorporates a six-year clawback provision covering issues such as financial restatements and misconduct.